Key Points
- SLB, Baker Hughes and Halliburton withdrew from oil activities in the Falkland Islands (Malvinas) following Argentina's threat of sanctions.
- The companies stated they acted in accordance with Decree 868/26 and Law 26.659.
- Argentine Foreign Minister Pablo Quirno commended Baker Hughes' decision.
- Navitas Petroleum and Rockhopper Exploration, operators of the Sea Lion project, stated the warnings would not affect the project schedule.
By the Numbers
65% Navitas Petroleum stake35% Rockhopper Exploration stakeDecree 868/26Law 26.659
SLB, Baker Hughes and Halliburton withdrew from hydrocarbon activities in the Falkland Islands (Malvinas) following the threat of sanctions by the Argentine government.
The companies stated they made this decision following warnings against unauthorized offshore activities under Presidential Decree 868/26 and Law 26.659. Argentine Foreign Minister Pablo Quirno commended Baker Hughes' decision.
Navitas Petroleum (65%) and Rockhopper Exploration (35%), which operate the Sea Lion project, announced they would continue operations, stating that the Argentine warnings would not alter project timelines.
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Frequently Asked Questions
- Which companies withdrew from the Falkland Islands (Malvinas)?
- SLB (Schlumberger), Baker Hughes and Halliburton announced they would not participate in hydrocarbon projects in the Falkland Islands (Malvinas) following Argentina's threat of sanctions.
- Under what legal basis did Argentina warn the companies?
- Argentina facilitated the application of sanctions to companies conducting unauthorized offshore activities through Presidential Decree 868/26 and Law 26.659.
- What is the status of the Sea Lion project?
- The Sea Lion project continues to be operated by Navitas Petroleum (65%) and Rockhopper Exploration (35%); operators stated the Argentine warnings would not affect the project timeline.
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